Affordable

What Salary Do You Need to Live in Wellman?

To afford a 2-bedroom in Wellman, you need to earn at least $36,400/year based on estimated fair market rent data. The median household income here is $55,833, which means the typical resident is $19,433 above the threshold.

Census ACS Data Pop. 1,474

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$637	$2,123	$25,480	$-30,353
1 Bedroom	$755	$2,517	$30,200	$-25,633
2 Bedroom BENCHMARK	$910	$3,033	$36,400	$-19,433
3 Bedroom	$1,110	$3,700	$44,400	$-11,433
4 Bedroom	$1,365	$4,550	$54,600	$-1,233

Affordability Breakdown

Where the required salary line crosses above Wellman's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$55,833

Annual household

2BR Required Salary

$36,400

Under 30% rule

Income Gap

+$19,433

Surplus

Verdict

Affordable

Ratio: 19.6%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Wellman

Your Annual Salary

Pre-filled with Wellman's median household income

Max monthly rent you can afford$1,396

Studio

$637/mo

1 BR

$755/mo

2 BR

$910/mo

3 BR

$1,110/mo

4 BR

$1,365/mo

Your salary is $0 above the median income in Wellman.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Wellman's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Wellman

Living in Wellman is well within reach for most median-income earners. With a $19,433 cushion between what residents earn and what a 2-bedroom requires, households in Wellman typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Wellman, a studio at $637/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,110/month remains accessible for dual-income households earning above $44,400.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $54,600 would position you well — though many residents in Wellman manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Wellman, Iowa.

With a total population of 1,474, the city supports an active civilian workforce of 785 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $36,400 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

785

Active civilian employees in Wellman

Frequently Asked Questions About Renting in Wellman

What salary do I need to live in Wellman, Iowa?

To afford a 2-bedroom in Wellman under the 30% rule, you need an annual salary of at least $36,400. The median household income in Wellman is $55,833.

Can I afford a 2-bedroom in Wellman on $55,833?

The affordability verdict for Wellman is "Affordable". The rent-to-income ratio is 19.6%, meaning median earners have a $19,433 surplus.

What is the average rent in Wellman compared to median income?

The median gross rent in Wellman is $755/month. With a median household income of $55,833, residents spend approximately 19.6% of their income on rent.

What salary do I need for a studio in Wellman?

A studio in Wellman rents for approximately $637/month. Under the 30% rule, you need an annual salary of $25,480 to afford this.

Is Wellman considered an affordable place to live?

Based on the surplus of $19,433 and an affordability verdict of "Affordable", Wellman is considered a affordable rental market when comparing the required 2-bedroom salary of $36,400 to the local median household income.

How Wellman Compares

Other cities in Iowa with salary requirements